General Electric (NYSE:GE) Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC lifted its holdings in shares of General Electric (NYSE:GE) by 6.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 21,652 shares of the conglomerate’s stock after buying an additional 1,298 shares during the period. HB Wealth Management LLC’s holdings in General Electric were worth $3,612,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Seven Eight Capital LP purchased a new stake in shares of General Electric during the 2nd quarter worth approximately $560,000. Benjamin F. Edwards & Company Inc. grew its position in shares of General Electric by 8.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 11,616 shares of the conglomerate’s stock valued at $1,847,000 after buying an additional 936 shares during the last quarter. Benjamin Edwards Inc. raised its stake in General Electric by 6.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,369 shares of the conglomerate’s stock worth $218,000 after acquiring an additional 87 shares in the last quarter. AE Wealth Management LLC lifted its position in General Electric by 78.6% in the second quarter. AE Wealth Management LLC now owns 31,287 shares of the conglomerate’s stock valued at $4,974,000 after acquiring an additional 13,767 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in General Electric by 10.2% in the second quarter. Pacer Advisors Inc. now owns 114,530 shares of the conglomerate’s stock valued at $18,207,000 after acquiring an additional 10,609 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Trading Up 1.7 %

NYSE GE opened at $182.83 on Monday. General Electric has a 52-week low of $101.16 and a 52-week high of $194.80. The firm has a 50-day moving average price of $174.33 and a 200 day moving average price of $174.08. The stock has a market capitalization of $197.87 billion, a P/E ratio of 32.13, a P/E/G ratio of 1.40 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The business had revenue of $9.84 billion during the quarter, compared to the consensus estimate of $9.02 billion. During the same period in the prior year, the business posted $0.82 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts expect that General Electric will post 4.23 EPS for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.61%. General Electric’s dividend payout ratio (DPR) is presently 19.68%.

Insider Activity

In related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total value of $2,772,409.50. Following the sale, the senior vice president now directly owns 148,857 shares of the company’s stock, valued at approximately $26,539,714.53. This represents a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Riccardo Procacci sold 7,000 shares of General Electric stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the transaction, the senior vice president now owns 13,289 shares of the company’s stock, valued at approximately $2,407,036.57. The trade was a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on GE. Royal Bank of Canada cut their target price on General Electric from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their price target on General Electric from $235.00 to $228.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. UBS Group increased their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Melius Research lifted their target price on shares of General Electric from $194.00 to $202.00 in a report on Tuesday, October 22nd. Finally, Bank of America increased their price target on shares of General Electric from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, General Electric has an average rating of “Moderate Buy” and a consensus target price of $201.47.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.